JAKARTA (Yosefardi) – Financial Services Authority (OJK) is set to decide on the going concern of financial-trouble life insurance company PT Asuransi Jiwa Bumi Asih this month.
Bumi Asih had urged to seek new inverstors for injecting capital but it failed to get help so far. OJK will likely revoke the business license of Bumi Asih this month.
The insurer’s operation had been limited since May 1, 2009. By end of last year, Bumi Asih recorded liability of Rp1.3 trillion, including claim payment, while its assets only reached Rp294.14 billion.
Bumi Asih booked premium income of Rp168.29 billion in 2012, dropped 20.7% from Rp203.14 billion in 2011. It booked loss of Rp148.24 billion.